DFC Global Corp. (NASDAQ:DLLR), a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, today announced a new five-year $180 million global revolving credit facility, with the potential to further expand the credit facility to $230 million. Interest payable on borrowings under the new facility, which replaces the Company’s previous $235 million global revolving credit facility, will be derived from a pricing grid based on the Company’s total secured leverage ratio, which currently allows borrowings at an interest rate of LIBOR plus 400 bps, or approximately 5.0%.
The new revolving credit facility, which now includes a Euro based lender and is bound by a secured debt leverage ratio in lieu of a total debt to EBITDA calculation, is set to mature on October 25, 2018. The Company plans to use the new facility to continue to maintain its active global acquisition pipeline as well as providing for short-term liquidity needs in the normal course of business.
About DFC Global Corp.
DFC Global Corp. is a leading international non-bank provider of alternative financial services, principally unsecured short term consumer loans, secured pawn loans, check cashing, gold buying, money transfers and reloadable prepaid debit cards, serving primarily unbanked and under-banked consumers through its over 1,500 current retail storefront locations and its multiple Internet platforms in ten countries across Europe and North America: the United Kingdom, Canada, the United States, Sweden, Finland, Poland, Spain, Romania, the Czech Republic and the Republic of Ireland. The Company’s networks of retail locations in the United Kingdom and Canada are the largest of their kind by revenue in each of those countries. For more information, please visit the Company’s website at www.dfcglobalcorp.com.The Company believes that its customers, many of whom receive income on an irregular basis or from multiple employers, choose to conduct their personal financial business with the Company rather than with banks or other financial institutions due to the range and convenience of services that it offers, the multiple ways in which they may conduct business with the Company and its high-quality customer service. The Company’s products and services, principally its unsecured short-term consumer loans, secured pawn loans and check cashing and gold buying services, provide customers with convenient access to cash for living expenses and other needs. In addition to these core offerings, the Company strives to offer its customers additional high-value ancillary services, including Western Union® money orders and money transfers, reloadable VISA® and MasterCard® prepaid debit cards and foreign currency exchange.